News: Long Island

Wachtler Knopf Equities LLC leases 3,774 s/f at 500 Bicounty Corp. Plaza

Wachtler Knopft Equities LLC said Fay, Spofford & Thorndike (FST) of New York, Inc. has leased 3,774 s/f of office space at 500 Bicounty Corporate Plaza. FST, a national engineering and planning firm based in Burlington, Mass., provides engineering and planning services for Fortune 500 companies and various corporate clients. FST recently moved into its new quarters. Ralph Benzakein of Whitman Realty Group Inc., Melville, represented FST in arranging the lease. Philip Wachtler, principal of Farmingdale-based Wachtler Knopf Equities LLC, leasing and managing agent for the building, represented the landlord, an affiliate of Great Neck-based Sterling Equities. WKE also completed two other transactions at 500 BiCounty Corporate Plaza: * Admit Computer Services Inc., a developer of software used by police departments, first responders, court systems and municipal governments, renewed its lease for 5,502 s/f through 2013. The company uses the space for its corporate headquarters. * Cort Furniture Rental subleased 2,000 s/f from Liberty Mutual Insurance Co. for a showroom. Cort, a Berkshire Hathaway company, is based in Fairfax, Va. The 500 Bicounty property is one of the largest privately owned office complexes in the town of Babylon with 149,000 s/f. Ideally located just off Rte. 110, near major highways, it is close to Republic Airport, hotels, shopping, bus routes and the Long Island Railroad's Farmingdale station.
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Suffolk County IDA supports expansion of A&Z Pharmaceuticals

Hauppauge, NY The Suffolk County Industrial Development Agency (IDA) has granted preliminary approval of a financial incentive package that will assist a manufacturer in expanding its business by manufacturing more prescription (Rx) pharmaceuticals in addition to its existing over-the-counter
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The evolving relationship of environmental  consultants and the lending community - by Chuck Merritt

The evolving relationship of environmental consultants and the lending community - by Chuck Merritt

When Environmental Site Assessments (ESA) were first part of commercial real estate risk management, it was the lenders driving this requirement. When a borrower wanted a loan on a property, banks would utilize a list of “Approved Consultants” to order the report on both refinances and purchases.